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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    701 Ashley Dr Crestview, FL 32536

    • Warehouses
    • 9,922 SF
    • 2.90 lot acres
    For Sale
    View listing
    $2,935
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-3558260
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Williams Communications Inc / Electronics & Wireless Store

    Property Details for 701 Ashley Dr

    Year built
    2005
    Construction
    STEEL FRAME
    Lot size
    2.90 lot acres
    Property size
    9,922 SF
    Zone code
    C-1
    Property type
    Warehouses
    APN
    31-3N-23-0000-0002-0050
    APU
    313N23000000020050

    Description

    This exceptional industrial property, located at 701 Ashley Drive Unit 707 in Crestview, Florida, presents a rare opportunity for businesses seeking a strategically advantageous location and substantial space. Boasting a generous 30,156 square feet, this property sits on a 2.9-acre lot and offers an incredibly convenient location south of Interstate 10, providing easy access to State Highway 85. This prime location ensures seamless connectivity to Eglin Air Force Base, downtown Crestview, and effortless egress to I-10, maximizing logistical efficiency and minimizing commute times. The property itself features a well-designed layout, including two offices, a dedicated reception area, and a shared bathroom, catering to both administrative and operational needs. The substantial warehouse space is a key highlight, featuring the added benefit of drive-in capability, streamlining loading and unloading processes and enhancing operational efficiency. The availability of such a comprehensive and well-situated business center in this specific location is exceptionally rare, making this an unparalleled investment opportunity. The asking price is $2,935,000. This property is ideal for a variety of industrial businesses seeking a combination of prime location, ample space, and convenient features.

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,125,000
      6.5%
      $1,040,000
      7%
      $965,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $772,000
      Market price range: $323k - $772k

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $1,125,000
      Current use
      NEIGHBORHOOD: SHOPPING CENTER
      $1,555,000
      Change: +38% Conversion: Moderate
      AUTO REPAIR, GARAGE
      $1,530,000
      Change: +36% Conversion: Easy
      RETAIL STORES
      $1,255,000
      Change: +11% Conversion: Moderate
      INDUSTRIAL (GENERAL)
      $1,025,000
      Change: -9% Conversion: Easy

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Crestview
    County
    Okaloosa
    State
    Florida
    Longitude
    -86.5848
    Latitude
    30.711
    CBSA code
    18880
    CBSA name
    CRESTVIEW-FORT WALTON BEACH-DESTIN, FL METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $24,555
    $71,571
    $1,446,234
    $1,517,805
    -
    $71,571
    $1,446,234
    $1,517,805

    Comparable in this City

    • Value Estimation
      $6,075,000
      30,850 SF

      5184 Ferdon Blvd

      MINI-WAREHOUSE, STORAGE • 30,850 SF
      5184 Ferdon Blvd, Crestview, FL 32536
      View Details
    • Value Estimation
      $685,000
      0.77 Acres

      1503 Ferdon Blvd

      WAREHOUSE, STORAGE • 0.77 Acres
      1503 Ferdon Blvd, Crestview, FL 32536-8445
      View Details
    • Value Estimation by Request
      4,980 SF

      5020 Arena Rd

      WAREHOUSE, STORAGE • 4,980 SF
      5020 Arena Rd, Crestview, FL 32536-8435
      View Details
    • Value Estimation
      $1,350,000
      12,520 SF

      5180 Ferdon Blvd

      MINI-WAREHOUSE, STORAGE • 12,520 SF
      5180 Ferdon Blvd, Crestview, FL 32536-9258
      View Details
    • Value Estimation by Request
      6,342 SF

      382 Main St

      WAREHOUSE, STORAGE • 6,342 SF
      382 Main St, Crestview, FL 32536-3542
      View Details
    • Value Estimation by Request
      2,840 SF

      3052 Hemphill Rd

      WAREHOUSE, STORAGE • 2,840 SF
      3052 Hemphill Rd, Crestview, FL 32536-7230
      View Details

    Similar Nearby for Sale

    • $399,000

      Mixed-Use Property in Crestview Heart

      Versatile property in a sought-after location with mixed-use zoning.
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      30,156 SF

      Crestview Industrial Space - Huge Potential

      Prime Crestview location, large warehouse, great access.
      701 Ashley Dr, Crestview, FL 32536
      View Details
    • Contact for pricing
      10,000 SF

      Crestview Industrial Space - 10,000 SF

      Spacious industrial unit, prime location, ready to occupy.
      701 Ashley Dr Unit, Crestview, FL 32536
      View Details
    • $695,000
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      Crestview Net-Leased Industrial Investment

      Net-leased industrial property in Crestview, Florida, ideal for investment.
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    • Contact for pricing
      12.10 Acres

      Crestview Commercial Land Investment

      12 Acres, Hwy 85 & Airport Rd
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      View Details

    Similar Nearby for Lease

    • $5,250 /Mo

      Crestview Flex Space For Rent

      4,500 SF commercial flex space with high visibility.
      493 N Ferdon Blvd, Crestview, FL 32536
      View Details
    • $3,000 /Mo
      11,141 SF

      Office and Warehouse Space Available

      Convenient location with offices, conference room, and warehouse space.
      701 Ashley Dr, Crestview, FL 32536
      View Details
    • $210 SF/Yr

      Versatile Space in Crestview, Florida

      Adaptable commercial space suitable for office, retail, warehouse, or storage.
      404 W James Lee Blvd, Crestview, FL 32536
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    • $210 SF/Yr

      Retail, Office, Warehouse Space

      Versatile space for lease, trade new roof for rent.
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    • $14 SF/Yr
      4,500 SF

      Crestview Flex Space For Lease

      4,500 SF commercial flex space with high visibility.
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      View Details
    • $23 SF/Yr
      1,200 SF

      Crestview Retail Space: Prime Location

      High-traffic retail space in thriving Crestview, FL.
      2535 2499 S Ferdon Blvd, Crestview, FL 32536
      View Details
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    701 Ashley Dr
    Crestview, FL 32536
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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